Product & Service Launches 

FlexPATH Surpasses $100B in AUM

FlexPATH Strategies LLC, an investment adviser providing target-date and individually managed solutions, has surpassed $100 billion in assets under management.

The firm specializes in fiduciary services, glide path asset allocation design, target-date funds, and both index and active strategies delivered through collective investment trusts.

FlexPATH offers three glide paths—conservative, moderate and aggressive—and TDFs that allow participants to select their individual risk tolerance.

Manulife Releases CQS Multi Asset Credit Fund

Manulife Investments has launched, in Canada, the Manulife CQS Multi Asset Credit Fund in partnership with its affiliated investment adviser, Manulife | CQS Investment Management.

According to Manulife Investments, the fund seeks to generate income and capital growth by investing primarily in credit-related investments of global issuers. It will invest into a variety of traditional and alternative fixed-income asset classes, with a focus on developed markets in a mutual fund structure. The investments will include corporate bonds, asset-backed securities, loans and convertible bonds, with an ability to shift allocations.

“As investors continue to seek diversification and the potential for enhanced income and growth in today’s volatile markets, we’re expanding our liquid and semi-liquid alternatives platform to meet that demand,” said Kristie Feinberg, global head of retail at Manulife Wealth & Asset Management, in a statement. “This marks our first fund launch in Canada in collaboration with the Manulife | CQS Investment Management team, and we believe it offers a compelling long-term solution for evolving portfolio needs.”

GSAM Files to Launch Stablecoin Reserves Fund

Goldman Sachs Asset Management L.P. has filed with the Securities and Exchange Commission to launch the Stablecoin Reserves Fund.

According to the firm’s Form N-1A registration statement, it intends the fund to be a government money market fund. It will invest only in U.S. dollar-denominated securities that meet certain risk-limiting conditions related to portfolio quality, maturity and liquidity. Shares of the fund are expected to be held primarily by one or more stablecoin issuers as all or a portion of the reserve assets that back the stablecoins issued to customers.

Northern Trust Provides Trading Solutions for North Dakota Office

Northern Trust announced Tuesday that it will offer integrated trading solutions to the North Dakota Retirement and Investment Office, supporting the agency’s goal to bring more of its state investment board’s asset management in-house.

NDRIO will leverage Northern Trust’s Integrated Trading Solutions platform to try to enhance trading efficiency and execution coverage for assets managed by the agency. NDRIO manages investments for more than two dozen state investment board client funds, including the $12 billion North Dakota Legacy Fund and the Public Employees Retirement System, Teachers’ Fund for Retirement and Workforce Safety & Insurance Fund.

ELMCRx and Capital Rx Partner on PBM Solution for TPAs

ELMCRx Solutions and Capital Rx Inc. have partnered to launch a pharmacy benefit manager solution for third-party administrators.

The collaboration leverages Capital Rx’s Judi, a cloud-based enterprise health platform, and the single-ledger model framework that brings visibility of drug unit prices to stakeholders. The goal of the collaboration is to help plan sponsors cut hidden fees, eliminate inconsistent pricing and gain greater control over pharmacy benefits.

“Capital Rx’s transparent pricing model and cutting-edge technology offer clients unparalleled flexibility and control over their prescription drug spend,” said Mary Ann Carlisle, ELMCRx’s chief revenue officer and chief operating officer, in a statement. “The addition of Judi allows our modular services to be combined seamlessly to benefit the payer and patient alike at a lower overall cost.”